The Accounts and Audit (Wales) Regulations 2005

Signing and approval of statement of accounts etc

9.—(1) A local government body shall ensure that —

(a) the statement of accounts, or

(b) where no statement of accounts is required to be prepared, the income and expenditure account and the statement of balances, or

(c) where no income and expenditure account and statement of balances are required to be prepared, the record of receipts and payments of the body,

is prepared in accordance with these Regulations.

(2) Before the approval referred to in paragraphs (3) and (4) is given, the responsible financial officer of a local government body shall sign and date the statement of accounts, income and expenditure account and statement of balances, or record of receipts and payments, as the case may be, and shall certify that it presents fairly the financial position of the body at the end of the year to which it relates and its income and expenditure or that it properly presents receipts and payments, as the case may be, for that year.

(3) Subject to paragraph (5), in respect of all local government bodies referred to in regulation 7(1) —

(a) the statement of accounts as required by regulation 7(1) shall be approved by a resolution of a committee of the local government body or otherwise by a resolution of the members of the body meeting as a whole, such approval to take place as soon as reasonably practicable and in any event before the 30 June immediately following the end of a year, and

(b) following approval in accordance with sub–paragraph (a), the statement of accounts shall be signed and dated by the person presiding at the committee or meeting at which that approval was given.

(4) In respect of all local government bodies referred to in regulation 8(2) and (3) —

(a) the income and expenditure account and balance sheet as required by regulation 8(1), statement of accounts, if the council so determines, as required by regulation 8(3)(a) or the income and expenditure account and statement of balances as required by regulation 8(3)(b), or the record of receipts and payments or the income and expenditure account and statement of balances as required by regulation 8(3)(c), shall be approved by a resolution of a committee of the local government body or otherwise by a resolution of the members of the body meeting as a whole, such approval to take place as soon as reasonably practicable and in any event before the 30 September immediately following the end of a year, and

(b) following approval in accordance with sub–paragraph (a), statement of accounts if the council so determines, the record of receipts and payments or the income and expenditure account and statement of balances, as the case may be, shall be signed and dated by the person presiding at the committee or meeting at which the approval was given.

(5) The reference in paragraph (3)(a) to “the 30 June” shall be read in respect of the year ending with 31 March 2006 as a reference to “the 31 July”.

(6) If the local government body has not obtained approval in accordance with paragraphs (3),(4) and (5) it is required:

(a) to publish a statement before 30 June where the local government body is a county or county borough council or 30 September where the local government body is a community council subject to paragraph (5) including reasons why approval has not been obtained; and

(b) agree to course of action to ensure approval can be given and subject to sub–paragraphs (c) and (d) agree a new approval date for the statement of accounts, or income and expenditure account and statement of balances or the record of receipts and payments as the case may be;

(c) for the purposes of sub–paragraph (b) a new approval date should be set:

(i) which is no longer than twenty working days after the approval dates in paragraphs (3), (4) or (5) as appropriate, or

(ii) as soon as reasonably practicable where in exceptional circumstances, despite the best endeavours of the local government body, it cannot resolve relevant issues to allow a decision to be made in accordance with the time limit in sub–paragraph (i);

(d) if the local government body cannot approve the accounts in accordance with sub–paragraph (c)(i) it shall, as soon as reasonably practicable, hold a meeting and resolve as to the reasons why it cannot approve the accounts and publish a statement setting out those reasons.